2015 Q3 Form 10-Q Financial Statement

#000110465915055127 Filed on July 31, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $688.5M $644.5M $713.8M
YoY Change -7.24% -9.71% -6.85%
Cost Of Revenue $540.2M $566.3M $622.1M
YoY Change -16.52% -8.98% -5.19%
Gross Profit -$2.237B -$69.55M -$6.350M
YoY Change 38128.88% 995.21% -353.49%
Gross Profit Margin -324.88% -10.79% -0.89%
Selling, General & Admin $25.73M $24.27M $29.93M
YoY Change -8.55% -18.92% -12.74%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $104.0M $97.30M $102.5M
YoY Change -1.05% -5.07% -13.72%
% of Gross Profit
Operating Expenses $2.925B $714.0M $749.6M
YoY Change 276.26% -4.75% -6.61%
Operating Profit -$2.336B -$168.2M -$35.81M
YoY Change 6517.16% 369.65% -1.31%
Interest Expense $99.76M $99.57M $97.96M
YoY Change 1.57% 1.65% 3.38%
% of Operating Profit
Other Income/Expense, Net -$7.482M -$4.016M
YoY Change
Pretax Income -$2.343B -$172.2M -$131.7M
YoY Change 1681.09% 30.7% 1.47%
Income Tax -$343.9M -$4.071M -$34.87M
% Of Pretax Income
Net Earnings -$1.999B -$168.1M -$96.86M
YoY Change 1956.69% 73.55% 34.14%
Net Earnings / Revenue -290.41% -26.08% -13.57%
Basic Earnings Per Share
Diluted Earnings Per Share -$93.91 -$7.93 -$4.57
COMMON SHARES
Basic Shares Outstanding 212.9M shares 212.7M shares 212.3M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $694.5M $689.4M $988.8M
YoY Change -33.54% -30.28% -28.43%
Cash & Equivalents $494.8M $439.7M $740.2M
Short-Term Investments $199.7M $249.8M $248.6M
Other Short-Term Assets $51.40M $50.84M $54.27M
YoY Change 3.9% -6.32% -10.76%
Inventory $239.0M $223.9M $228.7M
Prepaid Expenses
Receivables $217.7M $204.6M $203.8M
Other Receivables $21.00M $15.00M $35.00M
Total Short-Term Assets $1.319B $1.297B $1.582B
YoY Change -18.85% -18.01% -9.89%
LONG-TERM ASSETS
Property, Plant & Equipment $4.173B $6.341B $6.603B
YoY Change -36.12% -3.97% -8.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $206.3M $227.8M $229.5M
YoY Change -11.09% -0.75% -1.39%
Other Assets $119.4M $117.7M $153.9M
YoY Change -18.35% -23.52% -0.65%
Total Long-Term Assets $355.6M $398.4M $470.9M
YoY Change -22.85% -15.39% -36.73%
TOTAL ASSETS
Total Short-Term Assets $1.319B $1.297B $1.582B
Total Long-Term Assets $355.6M $398.4M $470.9M
Total Assets $5.848B $8.036B $8.656B
YoY Change -32.15% -7.16% -11.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $152.2M $156.7M $160.2M
YoY Change -12.43% -2.17% -31.07%
Accrued Expenses $310.7M $263.0M $294.3M
YoY Change -9.33% -10.65% -4.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $32.00M $32.00M $27.00M
YoY Change 6.67% 18.52% 12.5%
Total Short-Term Liabilities $495.2M $451.4M $481.8M
YoY Change -9.39% -6.3% -14.56%
LONG-TERM LIABILITIES
Long-Term Debt $5.108B $5.115B $5.116B
YoY Change -0.35% -0.03% 0.74%
Other Long-Term Liabilities $248.8M $109.7M $172.5M
YoY Change 37.33% -36.41% -15.89%
Total Long-Term Liabilities $5.357B $5.224B $5.289B
YoY Change 0.94% -1.22% 0.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $495.2M $451.4M $481.8M
Total Long-Term Liabilities $5.357B $5.224B $5.289B
Total Liabilities $6.453B $6.642B $6.625B
YoY Change -3.46% 0.27% -5.63%
SHAREHOLDERS EQUITY
Retained Earnings -$3.613B -$1.613B -$994.5M
YoY Change 230.92% 62.21% 283.92%
Common Stock $3.055B $3.054B $3.046B
YoY Change 0.22% 0.25% 0.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $53.86M $53.86M $53.85M
YoY Change 0.0% 0.03% 0.0%
Treasury Stock Shares 152.0K shares 1.517M shares
Shareholders Equity -$605.4M $1.394B $2.031B
YoY Change
Total Liabilities & Shareholders Equity $5.848B $8.036B $8.656B
YoY Change -32.15% -7.16% -11.04%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$1.999B -$168.1M -$96.86M
YoY Change 1956.69% 73.55% 34.14%
Depreciation, Depletion And Amortization $104.0M $97.30M $102.5M
YoY Change -1.05% -5.07% -13.72%
Cash From Operating Activities $45.90M -$121.3M -$38.00M
YoY Change -42.84% 219.21% -536.78%
INVESTING ACTIVITIES
Capital Expenditures $9.889M $76.48M $81.29M
YoY Change -56.92% -5.92% -29.03%
Acquisitions
YoY Change
Other Investing Activities $39.20M -$38.40M $7.300M
YoY Change 1020.0% -626.03% -80.38%
Cash From Investing Activities $24.00M -$115.1M -$76.70M
YoY Change -221.83% 50.07% -2.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.70M -13.90M -10.80M
YoY Change 200.0% 28.7% -33.33%
NET CHANGE
Cash From Operating Activities 45.90M -121.3M -38.00M
Cash From Investing Activities 24.00M -115.1M -76.70M
Cash From Financing Activities -14.70M -13.90M -10.80M
Net Change In Cash 55.20M -250.3M -125.5M
YoY Change -0.9% 99.44% 45.93%
FREE CASH FLOW
Cash From Operating Activities $45.90M -$121.3M -$38.00M
Capital Expenditures $9.889M $76.48M $81.29M
Free Cash Flow $36.01M -$197.8M -$119.3M
YoY Change -37.2% 65.8% 12.71%

Facts In Submission

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us-gaap Share Based Compensation
ShareBasedCompensation
3354000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
1668154000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
1394025000 USD
CY2014Q2 us-gaap Trading Gains Losses
TradingGainsLosses
-3100000 USD
us-gaap Trading Gains Losses
TradingGainsLosses
3500000 USD
CY2015Q2 us-gaap Trading Gains Losses
TradingGainsLosses
-100000 USD
us-gaap Trading Gains Losses
TradingGainsLosses
-1100000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1517000 shares
CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1517000 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
53863000 USD
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
53863000 USD
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
212225000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
212198000 shares
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
212914000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
212788000 shares
CY2014Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
16714000 USD
CY2015Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
17220000 USD
CY2014Q4 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
94291000 USD
CY2015Q2 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
97489000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Accounting Policies</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued the Accounting Standards Update No. 2015-03 (&#8220;ASU 2015-03&#8221;), </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Presentation of Debt Issuance Costs. </font><font style="font-family:inherit;font-size:10pt;">ASU 2015-03 requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that liability, consistent with debt discounts. Amendments in this update are effective retrospectively for fiscal years and interim periods within those years, beginning after December 15, 2015, with early adoption permitted. We expect upon adoption of this guidance that the current financial statement classification of debt issuance costs will change from total assets to long-term debt on our Condensed Consolidated Balance Sheet.</font></div></div>

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